Thank you smarttees and Carl for your help.
The residential rental property is actually six 1BR condominiums. The county Board of Assessments shows the combined assessed values as:
Assessed Land 0
Assessed Building 77000
Total Assessed Value 77000
Estimated Market Value 740,000
Is there no land value associated with these tax parcels because they are owned as condominiums? Would my mother then be correct to depreciate the entire $370,000 (50% x $740,000) going forward from the date of my father's death?
